A reminder that Credit Suisse was doomed to fail since Obama (in 2102) wanted to know a list of all the Americans that banked their money there, because of muh wealthy tax-dodgers.

This caused a global loss of confidence, due to the loss of privacy of wealthy customers, that the Swiss had always enjoyed. Also the bank then stopped taking American customers. So, less deposits on two counts.

Of course then, Switzerland broke their neutrality recently, and sent stuff to Ukraine. Neutrality was always another underpinning to their banking prowess, because anyone could bank there.

Then, the EU was mucking around in '22, illegally confiscating Russian assets. So any rich person in the Global South, is now looking to put their money elsewhere. Switzerland and in a wider sense, any EU bank, is asshoe. If Brussels can just take the money of people they don't like, then maybe money is better invested elsewhere.

The collapse, as mapped out, seems logical IMO.

A comment from Gab:

I saw hyperinflation in real terms, via videos from Venezuela. A couple of guys went down there, back in 2016 or so, and the huge bundle of cash required to buy one item was too fantastic to believe. Money was on the streets, nobody wanted it. Imagine seeing bills of cash littering the ground and people stepping over it. That's hyperinflation.

Hope it collapses alot faster than that

Scary stuff. Good thing they have the digital currency ready. Almost like its going according to plan

Well this is depressing. My entire life of being responsible gone in an instant. I should have been as irresponsible as possible. Damn.

Popcorn at the ready? This is Devolution of the banking system. Enjoy the show.